Blame weak demand from overseas.
Japan’s real GDP fell by 0.1% in June from a 0.5% grow in May, due to the lowest recorded overseas demand in two months, Nikkei Japan said in a report.
The Japan Center for Economic Research said in its GDP estimate that weak US and EU-bound shipments diminished the country’s exports by 1%. Imports also rose by 1.7%.
Housing investment also waned by 0.4%. However, personal consumption grew 0.5%, thanks to stronger new-vehicle sales. Capital investment increased by 0.5%.
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